Shyam Metalics has signed a non-binding MoU with the Government of Maharashtra to establish a 9 million TPA greenfield integrated steel complex in Chandrapur, Vidarbha, involving an estimated investment of INR 50,000 crore and expected to create around 30,000 jobs.

Oct 5, 2026

Shyam Metalics and Energy Limited has signed a non-binding MoU with the Government of Maharashtra for the proposed 9 million Tonnes Per Annum (TPA) greenfield integrated steel complex at Chandrapur, Vidarbha. The project entails an estimated investment of INR 50,000 crore and is expected to create approximately 30,000 employment opportunities, including 10,000 direct and 20,000 indirect jobs.

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The proposed facility will include pelletisation, sintering, coke making, blast furnace operations, direct reduced iron (DRI), steel melting and continuous casting. The project is proposed to be initiated in FY 2027, subject to the necessary approvals, permissions, registrations, clearances and fiscal incentives. The MoU is non-binding and the project remains subject to regulatory approvals.